Secure Trust Bank PLC Directorate Change (2062X)
18 December 2019 - 1:47AM
UK Regulatory
TIDMSTB
RNS Number : 2062X
Secure Trust Bank PLC
17 December 2019
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
17 December 2019
For immediate release
SECURE TRUST BANK PLC
Appointment of Independent Non--Executive Director and
Changes to Board and Committee Composition
Secure Trust Bank PLC ("STB" or the "Company") announces the
appointment of David McCreadie as an independent Non--Executive
Director of the Company. David will also join the Risk Committee
with effect from 1 January 2020.
David has many years of banking experience, gained initially at
Royal Bank of Scotland and then at Tesco Bank where he was an
Executive Director and Managing Director with responsibility for
banking and insurance businesses.
The Financial Conduct Authority and the Prudential Regulation
Authority (Regulators) have been notified of the appointment of
David McCreadie.
STB also announces that Paul Marrow, Senior Independent Director
and Chairman of the Risk Committee will be standing down as a
Director of the Company, following the ninth anniversary of his
appointment, at the General Meeting (AGM) of the Company to be held
on 13 May 2020. Subject to receiving approval from the Regulator,
Ann Berresford, Chairman of the Audit Committee, will be appointed
as Senior Independent Director with effect from the close of the
AGM; and Paul Myers will be appointed Chairman of the Risk
Committee with effect from 31 March 2019. Paul will also join the
Remuneration Committee from 1 January 2020 and Victoria Stewart
will join the Audit Committee from 1 January 2020.
Lord Forsyth, Chairman, said:
"David brings substantial banking, personal finance, consumer
facing business and governance experience acquired in his previous
roles as well as knowledge of the Challenger Bank market. He will
complement the skills and experience of the existing directors and
further strengthen the Board. I welcome David to the board and look
forward to the contributions he will make.
On behalf of the Board I would also like to thank Paul Marrow
for his sage counsel throughout his tenure and for serving ably in
his many roles at STB."
The Company was assisted in the recruitment process by Korn
Ferry who were appointed in June 2018 to support STB in identifying
suitable additional independent Non-Executive Directors and were
reengaged in June 2019 for this process. Korn Ferry had no previous
relationship with the Company and were originally appointed
following a competitive tender.
The Company confirms that there is no other information about
David McCreadie requiring disclosure under paragraph 9.6.13 (1) to
(6) of the Listing Rules of the UK Listing Authority.
--ENDS-
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Tel: 0121 693 9100
About the Company:
Secure Trust Bank is an established, well--funded and
capitalised UK retail bank with a 67 year trading track record.
Secure Trust Bank operates principally from its head office in
Solihull, West Midlands, and had 956 employees (full-- time
equivalent) as at 30 June 2019. The Group's diversified lending
portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance, Asset
Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance,
Debt Management and Consumer Mortgages divisions
As at 30 June 2019 the Group's loans and advances to customers
totalled GBP2,278.3 million, customer deposits totalled GBP2,001.5
million and the Group's total customer base was well over 1.4
million.
Secure Trust Bank PLC is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
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END
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